Friday, August 9 2013 16:55
In Jan-June 2013 average wage in Armenia's banking system grew by 20.3% to 366,000 AMD or $894
ArmInfo. In Jan-June 2013 as compared with Jan-June 2012 the average wage in Armenia's banking system grew by 20.3% to 366,000 AMD or $894.
According to ArmInfo's Ranking of the Commercial Banks of Armenia, in Jan-June 2013 the banks spent 24.9bln AMD or $60.6mln on wages (27% more than in Jan-June 2012). The staff of the banks grew by 5.2% or 55 people to 11,309 people.
Two banks registered a drop in their wages. Byblos Bank Armenia recorded the biggest drop - 14.5%. The bank's wage costs dropped by 11.7%, while the staff grew by 3.2%.
BTA Bank registered the biggest growth in its wage - 77.9%. Its wage costs almost redoubled, while the staff shrank by 1%. Five banks cut their staffs in Jan-June 2013. Anelik Bank registered the biggest drop in the staff - 22.2% or 111 people. Armenian Development Bank increased its staff by 21% or 35 people, Converse Bank by 19% or 122 people.
Mellat Bank registered the highest average wage per employee: it pays an average of $1,900 or 799,000 AMD to its 39 employees. HSBC Bank Armenia pays an average of $1,700 or 702,000 to 377 employees, ArmSwissbank $1,335 or 547,000 AMD to 99 employees, Byblos Bank Armenia $1,314 or 539,000 to 96 employees, Ameriabank $1,276 or 523,000 AMD to 526 employees.
In Jan-June 2013 VTB Bank (Armenia) registered the biggest staff – 1,253 employees (7.1% more than in Jan-June 2012), who received an average of $999 or 409,000 AMD. Ardshininvestbank had 1,087 employees (3.5% less than in Jan-June 2012), who received an average of $729 or 299,000 AMD. ACBA-Credit Agricole Bank had 1,067 employees (3% more than in Jan-June 2012), who received an average of $1,200 or 503,000 AMD. Unibank had 941 employees (10.3% more than in Jan-June 2012), who received $779 or 320,000 AMD. Armeconombank had 852 employees (2.3% less than in Jan-June 2012), who received $650 or 266,000 AMD.
Mellat Bank registered the smallest staff - 39 employees.
The top three in wage costs were ACBA-Credit Agricole Bank - 3.2bln AMD (14.3% more than in Jan-June 2012), VTB Bank (Armenia) - 3.1bln AMD (twice as much as in Jan-June 2012) and Ardshininvestbank - 1.9bln AMD (18.8% more than in Jan-June 2012). ArmSwissbank and ABCA-Credit Agricole Bank spent 75-79% of their administrative costs on wage costs, ProCredit Bank just 45%.
Suren Parsyan calls the downwardly revised forecast of the World Bank and IMF for Armenia`s GDP growth 
Universal Income Declaration: what happened has little in common with what was intended - David Ananyan
Are all funds protected in Russian banks?
China preparing to open new chapter of One Belt, One Road initiative with involvement of Armenia - diplomat 
The Merger between "Ardshinbank" CJSC and "Ardshininvestbank" CJSC Has Been Completed
Ticket packets 1.2% of total number of transport tickets in Yerevan 
Armenia`s minister of labor meets with U.S. public figures at U.S. presidential residence 
Armenian fish industry gains access to European market